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Bankrupt VeraSun Asking Corn Farmers for Money Back

September 07, 2010
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According to the Associated Press, farmers who sold corn to bankrupt ethanol producer VeraSun Energy Corp. have been receiving official letters asking for most of that money back. Although the request carries legal precedent, trade association groups say growers have a defense and should consult an attorney before sending any money. They do have to respond though fast, the groups advise. The letters were sent to farmers paid by VeraSun in the 90 days before it filed for Chapter 11 bankruptcy protection. The settlement offer good through Sept. 30 requests an 80 percent repayment of what VeraSun paid them for their corn.
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